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Catalent reports Q1 adj. EPS 28c vs. 21c last year

Reports Q1 revenue $551.8M, consensus $582.44M.

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CTLTCatalent

$41.44

-0.61 (-1.45%)

03/28/18

03/28/18UPGRADETarget $48Overweight

Catalent upgraded to Overweight at KeyBanc

As previously reported, KeyBanc analyst Donald Hooker upgraded Catalent to Overweight from Sector Weight, with a $48 price target, ahead of what he expects will be an increasing flow of new drug approvals in the coming years, as well as a rising prevalence of "value-based contracts" in which drug companies are held financially accountable for the real-world impact of their therapies.

Piper Jaffray analyst Sean Wieland kept his Overweight rating and $49 price target on Catalent after its Q4 earnings beat, saying the company's Biologics segment carried the "bulk of growth" while Softgel "waned". The analyst states that he remains confident in the company's long-term growth and margin targets in spite of the near term headwinds.

UBS analyst Daniel Brennan initiated coverage of the Life Sciences and Diagnostics Tools sector. He said demand is accelerating across his universe but valuations are extended. He expects strong fundamentals to continue into 2019 but he said selectivity is the key. In the group, his Buy ratings include Exact Sciences (EXAS), Iqvia (IQV), NanoString (NSTG), Syneos Health (SYNH) and Thermo Fisher (TMO).

Catch up on today's top five analyst initiations with this list compiled by The Fly: 1. Nvidia (NVDA) initiated with an Overweight at Atlantic Equities. 2. United Technologies (UTX) resumed with an Overweight at JPMorgan. 3. Wabtec (WAB) initiated with a Hold at Jefferies. 4. STMicroelectronics (STM) initiated with an Outperform at Cowen. 5. Biogen (BIIB) initiated with a Market Perform at BMO Capital. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.

Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. Kraft Heinz (KHC) downgraded to Equal Weight from Overweight at Barclays, to Hold from Buy at Berenberg and Stifel, and well as to Neutral from Buy at BofA/Merrill, UBS, Piper Jaffray, and JPMorgan. 2. Broadcom (AVGO) downgraded to Market Perform from Outperform at Cowen with analyst Matthew Ramsay saying he sees the shares as fairly valued at current levels. 3. Stamps.com (STMP) downgraded to Sell from Neutral at Roth Capital and to Hold from Buy at Maxim. 4. Nordstrom (JWN) downgraded to Hold from Buy at Deutsche Bank with analyst Paul Trussell saying while Nordstrom "continues to operate unique assets," he no longer anticipates an inflection in EBIT dollar growth near-term. 5. Roku (ROKU) downgraded to Neutral from Outperform at Wedbush with analyst Michael Pachter saying Roku has built an "exceptional" platform and has positioned itself as best-in-class for OTT advertising, but lowered his long-term EPS estimate on lower operating margin assumption given a greater likelihood of higher spending levels than he previously modeled. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.

Catch up on today's top five analyst upgrades with this list compiled by The Fly: 1. Citi (C) upgraded to Buy from Hold at Jefferies with analyst Ken Usdin saying he believes Citi's 2019 will show better revenue growth, stable costs and credit trends, as well as $20B-plus of capital returns. 2. Intel (INTC) upgraded to Overweight from Equal Weight at Morgan Stanley with analyst Joseph Moore citing his belief that shares "can rerate higher" given that the company has put "a more financially oriented CEO" in charge with the appointment of Robert Swan. 3. Planet Fitness (PLNT) upgraded to Buy from Hold at Jefferies with analyst Randal Konik saying Planet Fitness is a platform for consumer aggregation "with tenets that resemble Amazon's successful model." 4. Dropbox (DBX) upgraded to Buy from Neutral at BofA/Merrill with analyst Justin Post saying the selloff creates a buying opportunity. 5. ATN International (ATNI) upgraded to Buy from Hold at Maxim and to Outperform from Market Perform at Raymond James. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.